Bed Bath & Beyond Reports 24% Increase in Net Profit

Bed Bath & Beyond (BBBY) released in financial results for fourth quarter 2011 according to which its net profit for the respective quarter jumped 24 percent to $351 million or earnings of $1.48 per share as compared to net income of $283.5 million or earnings of $1.12 per share for the same period last year. The company’s revenue increased 9.1 percent to $2.73 billion for the fourth quarter as compared to revenue of $2.5 billion last year. According to the company its same store sales gained 6.8 percent in the respective quarter.

Analysts on average were expecting the giant retailer to report the earnings of $1.33 per share with revenue of $2.66 billion.

Bed Bath & Beyond Inc. (BBBY) gained 8.49% to close at $71.85 in its last trading session. The company has floated 228.96M billion shares in the stock market out of its total outstanding common stock of 241.25M billion shares. Insiders hold 2.70% of the total outstanding common stock while 90.90% of outstanding shares are held by different institutions. The traded volume stood at 10.64M shares as compared to its average traded volume of 2.69M shares per day. The stock price moved 17.62 times to its earnings per share in the last trading session.

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Alan Smalling

About Alan Smalling

Alan is the latest addition to our news and development team. He has worked with Pete previously on other financial websites. When we can keep him at low altitude, his contributions will mainly be focused on company news and new product launches.

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